Cineworld to sell Belmont cinema in Aberdeen

GARETH MACKIE

Cinema operator Cineworld today said it was “reluctantly” selling its Belmont venue in Aberdeen, along with another art-house site in Bury St Edmunds, following a ruling by the competition watchdog.

The Competition Commission said last year’s acquisition of the 21-strong Picturehouse chain by Cineworld could have led to higher prices for customers in Aberdeen, Bury St Edmunds and Cambridge.

As a result, the regulator ordered Cineworld to sell a venue in each of the affected areas, although the cinema group has not decided which venue to offload in Cambridge.

Cineworld chief executive Stephen Wiener said: “We are very disappointed by the Competition Commission’s final decision to sell three of our cinemas.

“We will be selling these cinemas as going concerns and will be supporting our affected cinema teams through the sale. In the meantime, Cineworld Group continues to invest in and grow both Picturehouse and Cineworld estates.”